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Tribune
Company Statement on Supreme Court Ruling
CHICAGO,
June 13, 2005 -- Tribune Company
released the following statement regarding today’s
ruling by the United States Supreme Court on local media
ownership rules established by the Federal Communications
Commission:
"The issue of cross-ownership
of newspapers and television stations in the same market
is now once again before the Federal Communications Commission,
which has a statutory obligation to deal with it in a timely
manner. We are confident that cross-ownership relief will
occur for two reasons:
- The FCC’s prior decision to
loosen the cross-ownership ban in major markets, and,
- The Third Circuit Court of Appeals’ affirmation
of that element of the commission’s rule-making.
It is our firm belief that our readers,
viewers and listeners, and the media industry will be well-served
by swift resolution of this issue."
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TRIBUNE (NYSE: TRB) is one of the country’s
top media companies, operating businesses in publishing and
broadcasting. It reaches more than 80 percent of U.S. households
and is the only media organization with newspapers, television
stations, and websites in the nation’s top three markets.
In publishing, Tribune operates 11 leading daily newspapers
including the Los Angeles Times, Chicago Tribune and Newsday,
plus a wide range of targeted publications such as Spanish-language
Hoy. The company’s broadcasting group operates 26 television
stations, Superstation WGN on national cable, Chicago’s
WGN-AM and the Chicago Cubs baseball team. Popular news and
information websites complement Tribune’s print and
broadcast properties and extend the company’s nationwide
audience.
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